Clarivate (NYSE:CLVT) Stock Price Target Cut by The Goldman Sachs Group

Clarivate (NYSE:CLVT) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $2.60 to $2.30 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group‘s price objective suggests a potential downside of 1.50% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group reiterated a “hold” rating and set a $2.25 price objective on shares of Clarivate in a research note on Thursday. Morgan Stanley began coverage on Clarivate in a report on Friday, October 30th. They set an “underweight” rating and a $1.50 price objective on the stock. William Blair downgraded Clarivate to a “market perform” rating in a research note on Thursday, October 15th. Finally, Barclays reduced their target price on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Clarivate presently has an average rating of “Reduce” and a consensus target price of $2.65.

Clarivate Stock Performance

NYSE:CLVT traded up $0.01 on Thursday, reaching $2.33. 4,686,291 shares of the company’s stock were exchanged, compared to its average volume of 3,504,719. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -3.83 and a beta of 1.38. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day simple moving average of $1.82 and a 200-day simple moving average of $2.20. Clarivate has a 52 week low of $1.42 and a 52 week high of $3.87.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $481.60 million for the quarter, compared to analyst estimates of $566.77 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Clarivate will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLVT. KBC Group NV purchased a new stake in shares of Clarivate in the first quarter worth $4,118,000. Empowered Funds LLC grew its position in Clarivate by 418.6% during the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock worth $5,100,000 after buying an additional 1,627,159 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Clarivate during the first quarter worth about $3,342,000. Amundi grew its position in Clarivate by 1,670.2% during the first quarter. Amundi now owns 558,992 shares of the company’s stock worth $1,414,000 after buying an additional 527,414 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Clarivate by 10.3% in the 1st quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after acquiring an additional 516,418 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.